By Krystal Hu (Reuters) – OpenAI has raised $6.6 billion from investors at a post-money valuation of $157 billion, cementing the ChatGPT maker’s status as one of the most valuable private companies in the world,sources familiar with the matter said on Wednesday. The funding has attracted returning venture capital investors including Thrive Capital and Khosla…
By Hannah Lang (Reuters) -California fintech giant SoFi is teaming up with British capital markets platform PrimaryBid Technologies to expand its initial public offering share placement business, the company told Reuters. SoFi’s new directed share platform, which went live on Wednesday, is designed to allow companies raising capital to allocate a portion of their offering…
(Reuters) -U.S. drugmaker Eli Lilly said on Wednesday it will invest $4.5 billion to create a new center in Indiana that will focus on developing new ways to manufacture its drugs and increasing production of experimental medicines used in clinical studies. Lilly and Danish rival Novo Nordisk are market leaders for a class of weight-loss…
By Krystal Hu (Reuters) -OpenAI, the company behind ChatGPT, has raised $6.6 billion from investors, which could value the company at $157 billion and cement its position as one of the most valuable private companies in the world. The funding has attracted returning venture capital investors including Thrive Capital and Khosla Ventures, as well as…
By Trevor Hunnicutt and Jasper Ward WASHINGTON (Reuters) – U.S. President Joe Biden said on Wednesday that he does not support strikes on Iran’s nuclear sites in response to its missile attack against Israel. “We’ll be discussing with the Israelis what they’re going to do, but all seven of us (G7 nations) agree that they…
(Reuters) – Bristol Myers Squibb won the dismissal on Monday of a $6.4 billion lawsuit claiming it cheated former Celgene shareholders by delaying federal approval for the cancer drug Breyanzi and two other drugs developed by Celgene. U.S. District Judge Jesse Furman in Manhattan said UMB Bank was never properly appointed trustee for shareholders owning…
By Howard Schneider NASHVILLE, Tennessee (Reuters) – The U.S. economy seems poised for a continued slowdown in inflation that will allow the Federal Reserve to cut its benchmark interest rate and “over time” reach a level that is no longer holding back activity, Fed Chair Jerome Powell said on Monday in remarks that showed no…
By Akash Sriram and Abhirup Roy (Reuters) – Tesla is expected to report an 8% jump in third-quarter deliveries of its electric vehicles on Wednesday, Wall Street estimates show, driven by extended incentives and lucrative financing plans in the world’s largest auto market, China. Responding to sluggish Chinese spending amid flagging economic growth and rising…
(Reuters) -AT&T said on Monday it would sell its entire 70% stake in satellite TV provider DirecTV to private equity firm TPG for $7.6 billion, exiting a business marked by declining distributions for the telecom operator. AT&T, which acquired DirecTV in 2015, signed a joint-venture agreement with TPG in 2021, in which the private equity…
By Milana Vinn and David French (Reuters) – Buyout firm TPG has emerged as the frontrunner to pick up a minority stake worth $2 billion in Creative Planning, in a deal that could value the wealth management firm at more than $15 billion, people familiar with the matter said on Saturday. The deal would mark…
